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Pakistan to cut petrol prices by Rs20per litre from December 1

02:21 PM | 29 Nov, 2023
Pakistan to cut petrol prices by Rs20per litre from December 1
Source: File Photo

KARACHI – The caretaker government is expected to cut petrol and diesel prices by up to Rs20 per litre for the first two weeks of December 2023.

The move aimed to pass on the relief of a drop in oil price in international market while people in crisis-hit nation are bearing the brunt due to record inflation with little rise in income.

Globally, oil prices remained under pressure, plunging below $75 a barrel in mid-November in the wake of concerns about leisurely global economic growth, especially in China.

In second half of November 2023, WTI crude traded at $76.5 a barrel, with drop of around 7pc as compared to October 29. Brent also plunged by 5.4 percent in the past month, trading at $86.35 a barrel on November 29.

For prices in Pakistan, the federal government will announce the final decision on November 30. 

With up to Rs20 per litre drop on cards, the expected price is supposed to be around Rs260, a move that will help authorities to bring inflation under control.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 27 Feb 2024

Pakistani currency remains largely stable against US dollar in the open market on February 27, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.4 for buying and 282.3 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 351.5 for buying, and 355 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 76.7.

Today’s currency exchange rates in Pakistan - 27 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.4 282.3
Euro EUR 303 306
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 181 183
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207 209
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.56 40.96
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36
 
26.66
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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